TD Asset Management Inc Has $990,000 Stock Position in Griffon Co. (NYSE:GFF)

TD Asset Management Inc raised its holdings in shares of Griffon Co. (NYSE:GFF) by 66.7% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 15,500 shares of the conglomerate’s stock after purchasing an additional 6,200 shares during the period. TD Asset Management Inc’s holdings in Griffon were worth $990,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in Griffon by 0.7% in the first quarter. Vanguard Group Inc. now owns 5,903,377 shares of the conglomerate’s stock valued at $432,954,000 after buying an additional 38,707 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Griffon by 2.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,354,467 shares of the conglomerate’s stock valued at $82,557,000 after purchasing an additional 30,710 shares during the period. LSV Asset Management boosted its position in shares of Griffon by 486.0% in the 1st quarter. LSV Asset Management now owns 911,295 shares of the conglomerate’s stock worth $66,834,000 after purchasing an additional 755,773 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Griffon by 0.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 522,741 shares of the conglomerate’s stock worth $31,861,000 after purchasing an additional 2,131 shares during the period. Finally, Norges Bank bought a new stake in Griffon in the fourth quarter valued at about $20,531,000. Institutional investors own 73.22% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. StockNews.com cut Griffon from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 8th. Stephens reissued an “overweight” rating and set a $85.00 price objective on shares of Griffon in a research note on Tuesday, September 10th. Finally, Robert W. Baird lowered their target price on shares of Griffon from $86.00 to $84.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Four analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $81.50.

Griffon Trading Up 3.1 %

NYSE GFF opened at $66.84 on Friday. Griffon Co. has a one year low of $38.33 and a one year high of $77.99. The company has a debt-to-equity ratio of 6.71, a current ratio of 2.50 and a quick ratio of 1.39. The firm has a market cap of $3.31 billion, a P/E ratio of 17.64 and a beta of 1.29. The stock’s 50-day moving average is $65.93 and its 200-day moving average is $67.42.

Griffon (NYSE:GFF) last announced its earnings results on Wednesday, August 7th. The conglomerate reported $1.24 EPS for the quarter, missing the consensus estimate of $1.31 by ($0.07). The company had revenue of $647.80 million for the quarter, compared to analyst estimates of $688.94 million. Griffon had a return on equity of 96.05% and a net margin of 7.27%. The business’s quarterly revenue was down 5.2% on a year-over-year basis. During the same quarter last year, the business posted $1.29 earnings per share. Sell-side analysts anticipate that Griffon Co. will post 4.87 earnings per share for the current fiscal year.

Griffon Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 19th. Investors of record on Wednesday, August 28th will be given a $0.15 dividend. The ex-dividend date of this dividend is Wednesday, August 28th. This represents a $0.60 annualized dividend and a yield of 0.90%. Griffon’s dividend payout ratio is currently 15.83%.

Insiders Place Their Bets

In other news, Director Kevin F. Sullivan sold 12,447 shares of the business’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $65.00, for a total value of $809,055.00. Following the sale, the director now directly owns 50,390 shares in the company, valued at $3,275,350. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CEO Ronald J. Kramer sold 100,000 shares of the stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $62.26, for a total transaction of $6,226,000.00. Following the completion of the transaction, the chief executive officer now owns 2,260,746 shares in the company, valued at $140,754,045.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kevin F. Sullivan sold 12,447 shares of Griffon stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $65.00, for a total transaction of $809,055.00. Following the completion of the sale, the director now owns 50,390 shares in the company, valued at $3,275,350. The disclosure for this sale can be found here. Corporate insiders own 16.10% of the company’s stock.

Griffon Profile

Griffon Corporation, through its subsidiaries, provides consumer and professional, and home and building products in the United States, Europe, Canada, Australia, and internationally. The company operates through two segments: Home and Building Products, and Consumer and Professional Products. The Home and Building Products segment manufactures and markets residential and commercial sectional garage doors, rolling steel service doors, fire doors, shutters, steel security grilles, and room dividers for the use in commercial construction and repair, and home remodeling applications.